Joseph Frank Oldakowski Sells 12,102 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) VP Joseph Frank Oldakowski sold 12,102 shares of Clover Health Investments stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $4.86, for a total value of $58,815.72. Following the completion of the transaction, the vice president owned 299,067 shares of the company’s stock, valued at approximately $1,453,465.62. This trade represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Clover Health Investments Stock Up 4.2%

Shares of CLOV opened at $5.00 on Friday. The company has a market cap of $2.63 billion, a PE ratio of -41.66 and a beta of 2.54. The business has a fifty day moving average of $3.30 and a 200 day moving average of $2.62. Clover Health Investments, Corp. has a 52-week low of $1.58 and a 52-week high of $5.18.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The firm had revenue of $749.19 million for the quarter, compared to analysts’ expectations of $714.89 million.

Analysts Set New Price Targets

CLOV has been the topic of several analyst reports. Canaccord Genuity Group upped their price target on shares of Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. UBS Group boosted their target price on Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Leerink Partners cut their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.82.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLOV. Allworth Financial LP lifted its holdings in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after buying an additional 6,527 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Clover Health Investments in the 1st quarter worth about $37,000. Envestnet Asset Management Inc. bought a new position in Clover Health Investments in the 2nd quarter worth about $31,000. Abel Hall LLC bought a new position in Clover Health Investments in the 4th quarter worth about $27,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Clover Health Investments during the fourth quarter worth approximately $29,000. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.